Euroseas (NASDAQ:ESEA) Share Price Passes Above 200-Day Moving Average - Time to Sell?

Shares of Euroseas Ltd. (NASDAQ:ESEA - Get Free Report) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $35.55 and traded as high as $49.52. Euroseas shares last traded at $49.11, with a volume of 47,267 shares changing hands.

Wall Street Analysts Forecast Growth

ESEA has been the subject of several recent analyst reports. Maxim Group upped their target price on Euroseas from $57.00 to $62.00 and gave the company a "buy" rating in a report on Monday, June 23rd. Wall Street Zen raised Euroseas from a "hold" rating to a "buy" rating in a report on Saturday, June 21st.

Euroseas Trading Up 3.8%

The firm has a fifty day simple moving average of $41.76 and a two-hundred day simple moving average of $35.55. The firm has a market capitalization of $344.11 million, a P/E ratio of 2.64 and a beta of 0.81. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.74 and a quick ratio of 1.68.

Euroseas (NASDAQ:ESEA - Get Free Report) last announced its quarterly earnings data on Wednesday, June 18th. The shipping company reported $3.76 earnings per share for the quarter, beating the consensus estimate of $3.35 by $0.41. Euroseas had a return on equity of 31.70% and a net margin of 58.28%. The business had revenue of $54.74 million during the quarter, compared to analyst estimates of $53.92 million. During the same period in the prior year, the company earned $2.66 earnings per share. On average, equities research analysts anticipate that Euroseas Ltd. will post 15.15 earnings per share for the current fiscal year.

Euroseas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 16th. Shareholders of record on Wednesday, July 9th will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 5.29%. The ex-dividend date of this dividend is Wednesday, July 9th. Euroseas's dividend payout ratio (DPR) is 14.00%.

Hedge Funds Weigh In On Euroseas

Institutional investors and hedge funds have recently bought and sold shares of the company. Millennium Management LLC grew its holdings in Euroseas by 661.4% during the fourth quarter. Millennium Management LLC now owns 40,931 shares of the shipping company's stock valued at $1,482,000 after purchasing an additional 35,555 shares during the period. Marshall Wace LLP grew its position in shares of Euroseas by 71.5% in the fourth quarter. Marshall Wace LLP now owns 40,703 shares of the shipping company's stock valued at $1,473,000 after purchasing an additional 16,969 shares in the last quarter. Mariner LLC bought a new stake in shares of Euroseas during the 4th quarter valued at $306,000. Novem Group bought a new stake in shares of Euroseas during the 4th quarter valued at $847,000. Finally, Renaissance Technologies LLC lifted its holdings in Euroseas by 17.0% during the 4th quarter. Renaissance Technologies LLC now owns 115,078 shares of the shipping company's stock worth $4,166,000 after purchasing an additional 16,700 shares in the last quarter. 6.27% of the stock is owned by institutional investors.

About Euroseas

Euroseas Ltd. provides ocean-going transportation services worldwide. The company owns and operates containerships that transport dry and refrigerated containerized cargoes, including manufactured products and perishables. As of March 31, 2024, it had a fleet of 20 containerships with a cargo carrying capacity of approximately 777,749 dwt.